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The e-commerce market size is forecast to increase by USD 12,951.56 billion between 2023 and 2027. The Report covers E-Commerce Market industry forecast and is segmented into Application (home appliances, fashion products, groceries, books, and others), Type (b2b and b2c), and Geography (APAC, North America, Europe, South America, and Middle East and Africa). The market size, historical market size (2017-2021), and forecasts are provided on the basis of value (USD billion) for all the above segments.
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The market size for E-Commerce Market is projected to experience a CAGR of 27.15% between 2023 to 2027 with a Year over Year (YoY) growth of 26.6%.
The surge in COVID-19 cases in China, South Korea, India, and Malaysia in 2020 had a favorable impact on the e-commerce technology market in the region. Stringent lockdowns confined people to their homes, prompting a substantial increase in online shopping for groceries, clothing, and various consumer goods. This shift led major consumer goods and B2B companies to expand their online presence. While the region saw recovery in 2021 due to mass vaccinations and lifted restrictions, online shopping preferences continued to rise. As a result, the market is expected to experience positive growth during the forecast period, with consumers showing a sustained interest in online purchases.
The advantages of e-commerce platforms is a key factor driving the market growth. The global e-commerce market is thriving due to consumers shifting to online platforms offering convenience and a wide range of B2C products. Offline retailers entering the online arena are also contributing to the market's significant growth in the forecasted period. E-retailers provide services such as product comparison, cash-on-delivery options, and easy return policies, enhancing the overall customer experience and promoting market growth.
Home Appliances Segment Dominates the Market
The home appliances segment was valued at USD 1,099.73 billion in 2017 and continue to grow by 2021. High revenues in the e-commerce segment result from growing brand trust and consumers' home improvement trends. Improved recycling initiatives played a key role, reducing consumer-generated e-waste by 9% in 2020. The rise of IoT and smart energy in consumer electronics is expected to further reduce e-waste. While some consumers prefer buying home appliances in physical stores for a hands-on experience, online retailers are creating showrooms for multichannel shopping, allowing customers to interact with products and seek information.
E-Commerce Market - Revenue Share by Home Appliances Segment, 2017-2027
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APAC Holds a Prominent Position in the E-Commerce Market
APAC is estimated to contribute 48% to the growth of the global market during the forecast period. APAC is the fastest-growing market of e-commerce due to the growing buying power of the middle-class population. The region comprises countries such as Pakistan, Bangladesh, and Indonesia that are considered to be late adopters of digital technology. The e-commerce market in these countries is expected to grow significantly during the forecast period, which will be the primary factor influencing the market in this region.
China, which is the leading revenue-generator from e-commerce, has multiple global vendors such as Alibaba and Jingdong (JD.com). These vendors restrict the influence of foreign vendors in the Chinese market, retaining the revenue within the country. The revenue generated is re-invested in e-commerce activities in the country.
E-Commerce Market Size, By Region, Global, 2017-2027
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The E-Commerce Market is fragmented in nature. Some significant players include Alibaba Group Holding Ltd, Amazon.com Inc., Apple Inc., Best Buy Co. Inc., Costco Wholesale Corp.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Ebates Performance Marketing Inc., eBay Inc., Flipkart Internet Pvt. Ltd., Groupon Inc., Inter IKEA Systems B.V., JD.com Inc., Lojas Americanas S.A., Otto GmbH and Co. KG, priceline.com LLC, Shopify Inc., The Home Depot Inc., Walmart Inc., Wayfair Inc., Zalando SE, and Etsy Inc.
The e-commerce market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 - 2027.
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E-Commerce Market Scope |
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Report Coverage |
Details |
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Page number |
174 |
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Base year |
2022 |
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Historic period |
2017 - 2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 27.15% |
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Market growth 2023-2027 |
USD 12,951.56 billion |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
26.6 |
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Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 48% |
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Key countries |
US, China, Japan, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Alibaba Group Holding Ltd, Amazon.com Inc., Apple Inc., Best Buy Co. Inc., Costco Wholesale Corp., Ebates Performance Marketing Inc., eBay Inc., Flipkart Internet Pvt. Ltd., Groupon Inc., Inter IKEA Systems B.V., JD.com Inc., Lojas Americanas S.A., Otto GmbH and Co. KG, priceline.com LLC, Shopify Inc., The Home Depot Inc., Walmart Inc., Wayfair Inc., Zalando SE, and Etsy Inc. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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